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Kazakhstan’s KazMunayGas to increase its oil production

Kazakhstan Materials 28 February 2023 18:05 (UTC +04:00)
Kazakhstan’s KazMunayGas to increase its oil production
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, February 28. Kazakhstan’s KazMunayGas National Company plans to increase its oil production up to 23 million tons in 2023, Magzum Mirzagaliyev, Chairman of the Management Board of KMG said during the meeting with President Kassym-Jomart Tokayev, Trend reports via Kazakh President's press service.

According to Mirzagaliyev, in 2022, In 2022, the company reached its production, processing and transportation targets.

Moreover, the chairman also reported on the prospects of building up the geological reserves of the company. Currently, investments in new promising projects are actively attracted.

Also, he spoke about the work on projects to provide the population with quality drinking water in the regions of presence, as well as about the implementation of "green" projects.

Meanwhile, according to the company's year-results, oil and gas condensate production volume in 2022 amounted to 22 million tons (456 kbopd), which is an increase of 1.7 percent year-on-year. At the same time, production volume of natural and associated gas grew by 2 percent to 8.2 billion cubic meters.

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